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Jan 21, 2013
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the debt ceiling debate, the u.s. set to hit that $16 trillion limit on borrowing in the next month, if we haven't hit it yet. let's take a listen to what president obama had to say about the potential battle looming in congress. >> markets had could go haywire, interest rates would spike for anybody who borrows money. every homeowner with a mortgage, every student with a college loan, every small business owner who wants to grow and hire. >> jared, how does this play out? >> well, we're beginning to hear lots of sounds from republicans that are more in a compromising mode than we heard a week ago. right now they're talking about perhaps an increase in the debt ceiling that lastins for a coup months. frankly, and russ may agree with me here, i don't think markets would react very approvingly to basically just another lurch from crisis to crisis. it wasn't too long ago that, maria, you and i were in these chairs talking about the fiscal cliff. now the debt ceiling. do you want to have this discussion two months from no
the debt ceiling debate, the u.s. set to hit that $16 trillion limit on borrowing in the next month, if we haven't hit it yet. let's take a listen to what president obama had to say about the potential battle looming in congress. >> markets had could go haywire, interest rates would spike for anybody who borrows money. every homeowner with a mortgage, every student with a college loan, every small business owner who wants to grow and hire. >> jared, how does this play out? >>...
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Jan 22, 2013
01/13
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we need to raise the debt ceiling so we should do it. we need to, you know, have a budget and need to reduce the deficit and need to make investments for the future. what he wanted to talk about is what a great country it is and how we need to make sure it's a country that offers opportunity for all americans and expands the middle class. >> you have been in the trenches. you know how divided congress is. do you think by not using words like compromise, by not reaching out in that very high profile speech, that it was a missed opportunity as some republicans are suggesting? >> well, i think that, you know, it's a little bit of looking backwards and the president was looking forward. i think what he was really saying is and reflecting in a way on his last two years, is he sought to compromise and compromise and compromise again and has gotten so little from the republican leadership. i think what the speech yesterday was about is we need to move forward and if going to, you need to know i'm going to be a determined president. we know the
we need to raise the debt ceiling so we should do it. we need to, you know, have a budget and need to reduce the deficit and need to make investments for the future. what he wanted to talk about is what a great country it is and how we need to make sure it's a country that offers opportunity for all americans and expands the middle class. >> you have been in the trenches. you know how divided congress is. do you think by not using words like compromise, by not reaching out in that very...
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Jan 23, 2013
01/13
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there's a new debt ceiling plan from speaker john boehner and the house republicans that could force senate democrats to finally show their hand and pass a budget. plus it's only day four of president obama's second term, but joe biden is already commenting on possibly running for the top job himself in 2016. we'll show you what he said in a minute. first the new developments in the debate over guns in america. the national rifle association last night delivered a sharp response to president obama's inaugural address. speaking in reno, nevada, way waywayn wayne lapierre lashed out at one word from president obama. >> we cannot mistake absolutism, or treat name calling as reasoned debate. >> obama wants to turn the idea of absolutism into a dirty word, just another word for extremism. he wants you, all of you, and americans throughout all of this country, to accept the idea of principles as he sees fit. it's a way of redefining words so that commonsense is turned upside down and that nobody knows the difference. >> lapierre vowed not to give ground on gun control including efforts to
there's a new debt ceiling plan from speaker john boehner and the house republicans that could force senate democrats to finally show their hand and pass a budget. plus it's only day four of president obama's second term, but joe biden is already commenting on possibly running for the top job himself in 2016. we'll show you what he said in a minute. first the new developments in the debate over guns in america. the national rifle association last night delivered a sharp response to president...
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Jan 27, 2013
01/13
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ceiling by allowing the debt ceiling to increase for a couple of months until may, and focus on getting what w we wa wit the otr bales at argrgument rightow. >> peter, u very much want them to tackle the spending issues. was that a smart maneuver? >> i think it was. what the republicans need to doo is return to regular order and denigrate the process if bringing a budget and spending resolutions -- began the pross of bringing up a budget and spending resolutions -- and you are making a commitment to spend addional money over a certain time, so they p pass a budget, passed appropriaons,ttach the debt ceiling, send it to the set. i understandhat e senate willorrow the house historian to find out i is they pass a budget of there. [laughs] mj you have been reporting that the republicans don'tare how they g get it, but you also report that there are some republicans that tnk it is okay to go into that peod of sequestration, with the autotic spendi cuts that are across the board, that include defensnse and domestic spendnding. whatre you hearing about the appetite for government shutdown? --
ceiling by allowing the debt ceiling to increase for a couple of months until may, and focus on getting what w we wa wit the otr bales at argrgument rightow. >> peter, u very much want them to tackle the spending issues. was that a smart maneuver? >> i think it was. what the republicans need to doo is return to regular order and denigrate the process if bringing a budget and spending resolutions -- began the pross of bringing up a budget and spending resolutions -- and you are...
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Jan 25, 2013
01/13
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look there's a reason why the republicans in the white house caved on the debt ceiling. the public is not with them on these issues. >> don't know. kate, you have a little different view. i think republicans now back in the driver's seat because they cooperated on raising the debt ceiling. they forced the senate democrats to put up a budget. the next thing will be the continuing resolution, short term spending cuts. i think the gop by stopping taxes is back in play, they are back in play. >> i love your optimism, larry. i wish i could be jumping up and down with you. but i'm afraid the republicans are in full retreat. i'm hoping -- i know they won't agree to this tax increase. the senator is absolutely right. but the problem is the democrats are using this as another opportunity to put republicans of throwing granny off the cliff, caring only about their millionaire and billionaire buddies. patty murray said we'll put it on the people who best can afford it. it worked for president obama, the democrats, like the cbs news political director said is to go for the jugular,
look there's a reason why the republicans in the white house caved on the debt ceiling. the public is not with them on these issues. >> don't know. kate, you have a little different view. i think republicans now back in the driver's seat because they cooperated on raising the debt ceiling. they forced the senate democrats to put up a budget. the next thing will be the continuing resolution, short term spending cuts. i think the gop by stopping taxes is back in play, they are back in play....
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Jan 21, 2013
01/13
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we have raised the debt ceiling 70-plus times. there has always been that sense of we're not going to vote to raise the other guy's debt ceiling, but there was always the understanding that we would provide the votes in the final analysis. the president's party did that. right now, what you have is a situation where the republican party is reduced to its lowest standing in the history of "the wall street journal" poll. the only thing that is worse is john boehner. 18% favorable. this is not a formidable partner. >> over the weekend, "politico" spoke to many advisers and said house republicans and party leaders appear willing to shut down government. we might need to do that four- member management purposes so that they can have an end game and show their constituents they are fighting. get it out of the system? this is not a gastrointestinal problem, this is the government. >> i would suggest therapy and do not shed down the government. i would give it to them for free. the republicans have had a pretty unhappy experience with bri
we have raised the debt ceiling 70-plus times. there has always been that sense of we're not going to vote to raise the other guy's debt ceiling, but there was always the understanding that we would provide the votes in the final analysis. the president's party did that. right now, what you have is a situation where the republican party is reduced to its lowest standing in the history of "the wall street journal" poll. the only thing that is worse is john boehner. 18% favorable. this...
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Jan 24, 2013
01/13
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the house averted the debt ceiling fight. at least some republicans. 33 members of the house gop still broke rank. by averting, we, of course, mean punting the ticking time bomb three months down the road. >> another 90 days away so we can continue to royle this congress, this country, our people, and our economy. >> we should not even be having a debate. it should be no doubt that the full faith and credit of the united states will be honored, and that is what our constitution says. >> the gimmick nature of this whole thing i won't elaborate on, has been done before. >> either way, the passage of this bill has allowed lawmakers to skip from brinkmanship to probably more brinkmanship. looming just over the horizon is a budget battle that could shut down the government and automatic steep spending cuts that could cost thousands of jobs. welcome to the new normal in washington. joining us now from davos, switzerland, is cnbc's squawk box co-host "new york times" columnist and author of too big to fail, andrew ross sorkin. it is
the house averted the debt ceiling fight. at least some republicans. 33 members of the house gop still broke rank. by averting, we, of course, mean punting the ticking time bomb three months down the road. >> another 90 days away so we can continue to royle this congress, this country, our people, and our economy. >> we should not even be having a debate. it should be no doubt that the full faith and credit of the united states will be honored, and that is what our constitution...
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Jan 23, 2013
01/13
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nobody put the debt ceiling or the u.s. willingness to pay its obligations on the table in the way it was placed in the summer of 2011 and the way i fear it is placed on the table again. it was a big mistake in 2011 to create this uncertainty and fear around the world and it is a big mistake to do it again today. >> what any good-thinking patriotic american want to use the debt ceiling as a vehicle to reduce spending? what would their reasoning be certainly not to embarrass the united states of america? >> i have no idea. but i can tell you -- >> if you don't have any, maybe it is to defeat the objectives that this president, at whatever cost some so-call leaders have said. they want to stop this president and they were unsuccessful in that measure. maybe they decided to change tactics and maybe this discussion is unnecessary and we find some other way to get a hand on the deficit. let me thank you to your contribution to this conversation as you have so many times before. i yield back my time. >> thank you, mr. johnson is
nobody put the debt ceiling or the u.s. willingness to pay its obligations on the table in the way it was placed in the summer of 2011 and the way i fear it is placed on the table again. it was a big mistake in 2011 to create this uncertainty and fear around the world and it is a big mistake to do it again today. >> what any good-thinking patriotic american want to use the debt ceiling as a vehicle to reduce spending? what would their reasoning be certainly not to embarrass the united...
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Jan 21, 2013
01/13
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the debt ceiling debate, presidential report card and quiet market rally. what does it mean for you money? joining us right now, jared bernstein, center on budget and policy priorities and chief economist to vice president biden. also with us, russ koesterich. thanks for joining us. >> thanks, maria. >> russ, let me kick it up with you. a pretty good rally. on thursday the s&p 500 hitting yet another five-year high. is this rally for real? do you think it's sustainable going forward as we continue through this earnings period? >> i think in the short term, it is. i think we're probably going to hit a road bump in february. the reason i say that is we've got a lot of flows coming into the market early in the year. people were nervous in december. they're coming back in to stocks. that's a good thing over the longer term. we do have some issues coming up. the debt ceiling obviously one of them. the second question is we start to get the economic data. how big of a hit from the tax increaseses, payroll tax holiday, and what do those numbers which may be a bit
the debt ceiling debate, presidential report card and quiet market rally. what does it mean for you money? joining us right now, jared bernstein, center on budget and policy priorities and chief economist to vice president biden. also with us, russ koesterich. thanks for joining us. >> thanks, maria. >> russ, let me kick it up with you. a pretty good rally. on thursday the s&p 500 hitting yet another five-year high. is this rally for real? do you think it's sustainable going...
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Jan 21, 2013
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the one thing to remember is it's not just the debt ceiling. it's these automatic cuts that are scheduled to take place march 16789 the debt ceiling isn't their only opportunity to try to get the president to agree to cuts. there are looming deadlines. so i think the republicans will get obama to agree to some cuts, even if we don't have a really economically damaging showdown. chris: how are we going to deal to entitlements? i don't think liberals want to do much. who is going to do it? >> we don't have to do it immediately, and that's an important point. conservatives don't either. the conservative base right now is an older base. it's people in their 50's and 60's, people who say i'm really worried about the deficit. don't touch my medicare or social security. chris: that it? indicated stuff. >> the entitlement stuff is a really big problem. there are a lot of liberals who go too far in denying it's a problem, but it's not an immediate problem. interest rates remain low. we have a little bit of time. chris: now for some fun. we're all lookin
the one thing to remember is it's not just the debt ceiling. it's these automatic cuts that are scheduled to take place march 16789 the debt ceiling isn't their only opportunity to try to get the president to agree to cuts. there are looming deadlines. so i think the republicans will get obama to agree to some cuts, even if we don't have a really economically damaging showdown. chris: how are we going to deal to entitlements? i don't think liberals want to do much. who is going to do it?...
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Jan 23, 2013
01/13
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at home. >> if you don't raise the debt ceiling now, or if you postpone this confrontation, if you say every 60, 90, or 100 days, we're going to again have the same kind of conversation about the debt ceiling, you will continue to have this sort of spike in policy uncertainty. you will continue to undermine the private sector. you will continue to delay investment and to reduce employment relative to what it would be otherwise. >> reporter: the debt ceiling extension would allow the treasury to pay the nation's bills through at least may 19. darren gersh, "n.b.r.," washington >> tom: the u.s. housing market had a quiet end to its best year since 2007. sales of existing homes fell unexpectedly in december by 1% down to a 4.94 million annual rate. analysts note the drop in sales is not entirely bad news because there were fewer homes on the market. inventories are at their lowest level in seven and a half years. sales were up in the northeast and western u.s. while they fell in the midwest and south. for the entire year, existing home sales saw their best year since 2007. >> tom: julia c
at home. >> if you don't raise the debt ceiling now, or if you postpone this confrontation, if you say every 60, 90, or 100 days, we're going to again have the same kind of conversation about the debt ceiling, you will continue to have this sort of spike in policy uncertainty. you will continue to undermine the private sector. you will continue to delay investment and to reduce employment relative to what it would be otherwise. >> reporter: the debt ceiling extension would allow the...
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Jan 28, 2013
01/13
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and i should add to that a constitutional crisis, in a way, because this whole debt ceiling has been a weapon that the house of representatives has used to gain power. it's not just the republicans versus the democrats. it's the house versus the president. >> meanwhile, these markets are on fire. another good week for the market. the s&p 500 hitting a new five-year high. what is driving stocks? and do you think it's sustainable for the year? some of the risk has been pulled out of the of the market. so the most recent is three months. some of the ris ks. and maybe just that the election isn't determined. maybe some are happy. some are, some aren't. but it's solved. markets don't like uncertainty. so even though it wasn't very likely the european union would fall apart, even though it wasn't very likely the u.s. would fall on its debt, i think that lifted markts a lot. >> meanwhile, new appointments in the obama administration. timmy geithner, the last day was on friday. i want to ask you about his successor. he's certainly served during a tumultuous time. >> if i'm going to give him
and i should add to that a constitutional crisis, in a way, because this whole debt ceiling has been a weapon that the house of representatives has used to gain power. it's not just the republicans versus the democrats. it's the house versus the president. >> meanwhile, these markets are on fire. another good week for the market. the s&p 500 hitting a new five-year high. what is driving stocks? and do you think it's sustainable for the year? some of the risk has been pulled out of the...
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Jan 25, 2013
01/13
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. -- debt ceiling." what we're talking about here is congress' power to borrow money and how we should be paying our bills based on that or some other med of -- method of raising revenue. so i think that's important to keep in mind. >> mr. hoagland, you were a member of that task force as well. >> yes. and in fairness, congressman, that task force also recommended a balanced plan that included tax increases as well as spending cuts, more on the spending side than the reduction in the rate of growth. the occasions of the debt level that were headed at 77% growing into the future i think has jeopardized, quite frankly, our standing in the world. when we have about 40, 50% of in this debt owned by invest beers outside of the ideas -- investors outside of the united states, we're raising questions about the sovereignty of this country going forward. and in terms of where's the turning point, i think that's the problem most economists would say they can't answer that question. who knows when that last drop in
. -- debt ceiling." what we're talking about here is congress' power to borrow money and how we should be paying our bills based on that or some other med of -- method of raising revenue. so i think that's important to keep in mind. >> mr. hoagland, you were a member of that task force as well. >> yes. and in fairness, congressman, that task force also recommended a balanced plan that included tax increases as well as spending cuts, more on the spending side than the reduction...
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Jan 24, 2013
01/13
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the debt ceiling another three months until the 18th of may. the vote to 852144. 111 democrats voting no. also asking the house and senate to approve a budget by the 15th of april. they don't congressional pay could be placed an escrow through late next year. does that sound like music? senate majority leader harry reid says the bill will be voted on in the senate over the coming days. the white house says the president will actually sign it into law. meanwhile, senate budget committee chairwoman saying that her committee will, indeed, draft a budget this year if adopted. the first time that the senate democrats have passed a budget in four years. so in advance to the democrats returning to regular word business, returning government at least in its transition to reality for us all. thank you very much. joining us now, the "a-team". good to have you all year. i have to think that you are about to break out in song. i mean, think about it. an agreement amongst the republicans for a 10-year plan. ryan has taken 30 years out of his plan, reduced c
the debt ceiling another three months until the 18th of may. the vote to 852144. 111 democrats voting no. also asking the house and senate to approve a budget by the 15th of april. they don't congressional pay could be placed an escrow through late next year. does that sound like music? senate majority leader harry reid says the bill will be voted on in the senate over the coming days. the white house says the president will actually sign it into law. meanwhile, senate budget committee...
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Jan 24, 2013
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the debt ceiling is going up, we know that. the fiscal cliff was afraided. -- avoided. one presidential advisor says it is time for washington to do the real work to boost the economy. ed lazear is here next. tracy: nasdaq ceo bob greifeld weighs in on the new york stock exchange plans to tie up with nasdaq's former partner ice. liz claman talks with him in davos. that is coming up. first as we do every day at this time of day, let's look how oil is trading, up, just under 1%. $96 a barrel even. we'll be right back what's next? he's going to apply testosterone to his underarm. axiron, the only underarm treatment for low t, can restore testosterone levels back to normal in most men. axiron is not for use in women or anyone younger than 18. axiron can transfer to others through direct contact. women, especially those who are or who may become pregnant, and children should avoid contact where axiron is applied as unexpected signs of puberty in children or changes in body hair or increased acne in women may occur. report these signs and symptoms to your doctor if they occur
the debt ceiling is going up, we know that. the fiscal cliff was afraided. -- avoided. one presidential advisor says it is time for washington to do the real work to boost the economy. ed lazear is here next. tracy: nasdaq ceo bob greifeld weighs in on the new york stock exchange plans to tie up with nasdaq's former partner ice. liz claman talks with him in davos. that is coming up. first as we do every day at this time of day, let's look how oil is trading, up, just under 1%. $96 a barrel...
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Jan 23, 2013
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ceiling -- using the debt ceiling for leverage is a mistake. i'll finish with this, because we were at the ways and means committee and i gave the opening statement, and one of the witnesses are talked about gramm-rudman. it was attached to a debt ceiling bill. i was among the democrats who voted for it, but it passed -- it was deemed passed in the house. and the debt ceiling bill was used by senators as a vehicle, not as a threat. and not for leverage but as a vehicle to attach deficit reduction. so the use of the debt ceiling for the purpose that is ascribed to this one does not have a history that supports its use for this purpose. and so to the extent that you have the ability to look at this issue, i would urge that this is not only a dangerous precedent but a very likely problem for the economy when we need to emphasize economic growth and jobs. so i say that in a somewhat sober way because of what happened before. thank you. >> thank you very much. i'd like to welcome mr. brady, former chairman of the house administration committee, who'
ceiling -- using the debt ceiling for leverage is a mistake. i'll finish with this, because we were at the ways and means committee and i gave the opening statement, and one of the witnesses are talked about gramm-rudman. it was attached to a debt ceiling bill. i was among the democrats who voted for it, but it passed -- it was deemed passed in the house. and the debt ceiling bill was used by senators as a vehicle, not as a threat. and not for leverage but as a vehicle to attach deficit...
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Jan 23, 2013
01/13
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a vote on the debt ceiling. we will get to john harwood in a moment on what it means for the white house and senate. but first, apple eamon javers on the hill. >> we expect it to pass, maybe tighter than republicans would like the vote count to be, but ultimately what the pleasure would do is extend the debt measure through to may 19th and politically what it does is rearranges the order of the fiscal fights we will have over the next couple of months and it means we will fight first over the sequester. remember that's that across the board budget cut postponed during the fiscal cliff fight in december and january. now that will be the first fight up at the beginning of march. republicans feel that that is a much more safe political ground for them to fight on than to fight over the debt ceiling which of course could threaten a default on the nation's obligations so we do expect this vote within the next couple of minutes here to pass by republicans, then it will go over to the senate side and the white house ha
a vote on the debt ceiling. we will get to john harwood in a moment on what it means for the white house and senate. but first, apple eamon javers on the hill. >> we expect it to pass, maybe tighter than republicans would like the vote count to be, but ultimately what the pleasure would do is extend the debt measure through to may 19th and politically what it does is rearranges the order of the fiscal fights we will have over the next couple of months and it means we will fight first over...
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Jan 23, 2013
01/13
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it's ready to work towards something lasting.what we support is a long-term raising of the debt ceiling ssothat we don't have any doubt or the global economy about the simple proposition thattthe unitte states always pays its biilsalso on the ppesident's ccmprehensive immigration reform.and nnthe aftermath of the newtown, connecticut sshool schooting - a push for congress to pass tighter gun pontrol laws.in washington, i'm tory dunnan. 3 the presidenn mmy have a llt of convincing to do... if he wwnts his second--erm agenda to pass passright now...51--ercent off people apppove of the jjb he president is doing.43 perceet disapprove. disapprove....and president obbma...has the 3rd áworstá job approval ratiig for his first term......of any president after world war 2. the avvrage for his first teem wass499point-1.just gerald ford and jimmy ccrter fared 3 coming up innour 6 o'clock hour... 3 gain some weight... ad help our pmrriage. the new study that says young couples wwo pack on the pounds 3 3thh ravens are gearing p... for a trip to the super bowl. how coach john harbaugh plans -3 po g
it's ready to work towards something lasting.what we support is a long-term raising of the debt ceiling ssothat we don't have any doubt or the global economy about the simple proposition thattthe unitte states always pays its biilsalso on the ppesident's ccmprehensive immigration reform.and nnthe aftermath of the newtown, connecticut sshool schooting - a push for congress to pass tighter gun pontrol laws.in washington, i'm tory dunnan. 3 the presidenn mmy have a llt of convincing to do... if he...
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Jan 23, 2013
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house will vote today on raising the debt ceiling. secretary of state hillary clinton testifies before house and senate committee today about the september terrorist attack in benghazi, libya. republicans are talking about their own priorities and reacting to president obama's inauguration speech. we're like to hear your advice for the president for his second term. here are the numbers to call. you can also find us online. share your comments over twitter or join the conversation on facebook. you can also e-mail us. we're asking you this morning your advice for the second obama administration. isedobama speech rate stark choices, says the new york times. we would like to hear from you this morning, what you think republican options are and what your advice is. here's what's happening on capitol hill today. house gop poised to extend the debt limit. that's the headline in "usa today." the bill would buy time and would set the stage for a physical fight. house republicans are scheduled to vote today to extend a $16.40 trillion at the o
house will vote today on raising the debt ceiling. secretary of state hillary clinton testifies before house and senate committee today about the september terrorist attack in benghazi, libya. republicans are talking about their own priorities and reacting to president obama's inauguration speech. we're like to hear your advice for the president for his second term. here are the numbers to call. you can also find us online. share your comments over twitter or join the conversation on facebook....
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Jan 23, 2013
01/13
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the debt ceiling. i'm very glad that they are going to send us a clean the debt ceiling bill. [inaudible] >> a call during the recess senator leahy. he is a person that everyone knows that is an avid second amendment rights guy. he floridly indicated that there had to be more done with background checks. he said specifically that there was no reason to have certain weapons to go hunting. this is an issue that we need to talk about. what i hope we can do is have a bill reported on the judiciary committee. may not be what everyone wants, but will have some stuff that's really important. my response to that is the same response as before. i am happy that they have a gut feeling that is not tied to entitlement cuts and that is a big step in the right direction. the other stuff is that senator patty murray will be the next person on the and we will see how she wants to proceed. she is experienced legislator and chairman of the super committee and i have full faith in her. >> [inaudible question] newspapers across the country called a liberal speech. [inaudible question] >> a libera
the debt ceiling. i'm very glad that they are going to send us a clean the debt ceiling bill. [inaudible] >> a call during the recess senator leahy. he is a person that everyone knows that is an avid second amendment rights guy. he floridly indicated that there had to be more done with background checks. he said specifically that there was no reason to have certain weapons to go hunting. this is an issue that we need to talk about. what i hope we can do is have a bill reported on the...
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Jan 23, 2013
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and then there's the debt ceiling. dull. no one was particularly surprised today when republicans began bashing speech. he offered a liberal vision - touching on preserving the social welfare safety net. some thought it overly partisan and aggressive. >> "the era of liberalism is back.unabashedly far left of center inauguration speech" congress to pass tighter gun the presidential inaugural celebrations came to end. and president obama iscoming up. his broad and ambitious agenda for his second term. and why republicans probably won't be making it any easier during the next four the investigation underway. into what caused this massive fire at an airforce base yesterday. the 40th anniversary of the so far president obama has laid out a broad and ambitious agenda for hisbut signs are scant negotiating with republicans will be any easier for the next four years. on tuesday the inaugural celebration was capped off cathedral in washington. now the president begins a second term - with plenty on his plate. threat of climate change
and then there's the debt ceiling. dull. no one was particularly surprised today when republicans began bashing speech. he offered a liberal vision - touching on preserving the social welfare safety net. some thought it overly partisan and aggressive. >> "the era of liberalism is back.unabashedly far left of center inauguration speech" congress to pass tighter gun the presidential inaugural celebrations came to end. and president obama iscoming up. his broad and ambitious agenda...
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Jan 21, 2013
01/13
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let us raise the debt ceiling. no strings attached. and if the president can raise it as he should be able to and if congress wants to reject it 2/3. the mcconnell proposal is a good republican proposal. i hope you support it. that's the way to go. >> a bill that says regardless of what happens with the debt ceiling, the united states will never default on the debt, would you support that or not? >> i support the concept. i'd have to look at the bill. the best way to do that is the mcconnell act. >> we may have just made news. >>> last week, general colin powell was here worried about a dark vein of intolerance in republican quarters. you are part of a stream of new faces in the republican party, minority faces and voices in the party that seem to stand against that. how did you respond to it? >> well, i saw that interview. i respect general powell a great deal. i was disappointed with those comments. i think he was buying into some of the partisan attacks. if you look at this last election, for example, i think the most racially divis
let us raise the debt ceiling. no strings attached. and if the president can raise it as he should be able to and if congress wants to reject it 2/3. the mcconnell proposal is a good republican proposal. i hope you support it. that's the way to go. >> a bill that says regardless of what happens with the debt ceiling, the united states will never default on the debt, would you support that or not? >> i support the concept. i'd have to look at the bill. the best way to do that is the...
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Jan 23, 2013
01/13
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this bill would extend the debt ceiling until may 19. it requires the house and senate to pass a budget. if they pass a budget resolution, they do not get their pay with help. they are not paid until the end of this congress. republicans say they feel hopeful and optimistic that this thing will pass. a number of republicans are saying that it will pass. we will be watching that today. as for the u.s. senate and white house, they have not ruled out this proposal. they are fine with a short term debt ceiling increase. they want to see some longer-term. they have not given it exactly a seal of approval. it seems they both parties could get behind this proposal. the first step through the u.s. house. back to you. dagen: thank you for that. let's bring in our laffer, former economic adviser to president ronald reagan. politicians will never get anything serious done. >> you are probably right. they probably will not get a lot done in the long run. the debt ceiling is one tool to get a little from the democrats and bring some spending down. th
this bill would extend the debt ceiling until may 19. it requires the house and senate to pass a budget. if they pass a budget resolution, they do not get their pay with help. they are not paid until the end of this congress. republicans say they feel hopeful and optimistic that this thing will pass. a number of republicans are saying that it will pass. we will be watching that today. as for the u.s. senate and white house, they have not ruled out this proposal. they are fine with a short term...
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Jan 24, 2013
01/13
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we said we will raise the debt ceiling for a couple months and, you know, there you go. we haven't gotten any of the real work done? >> it was a short-term punt but i think it was pretty shrewd move by the republicans because you can't default on our debt. if interest rates went up even slightly the amount of interest we would have to pay on our $16 trillion debt would be enormous. you can't do that. it would be shooting ourself in the foot. they tried closing down the government back in the 1990s. that didn't didn't work too well. they're focusing on what is called the sequester, which are across the board spending reductions. that's where i think they will make their stand. we'll have a good robust debate about the level of spending we'll have in this country. the cuts in the sequester are too much for the pentagon for republicans to like. that will be focus rather than having republicans blamed for defaulting on the debt or shutting down the government. that was a shrewd move on their part. melissa: everybody talks about we need to get entitlement spending uncontrol.
we said we will raise the debt ceiling for a couple months and, you know, there you go. we haven't gotten any of the real work done? >> it was a short-term punt but i think it was pretty shrewd move by the republicans because you can't default on our debt. if interest rates went up even slightly the amount of interest we would have to pay on our $16 trillion debt would be enormous. you can't do that. it would be shooting ourself in the foot. they tried closing down the government back in...
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Jan 23, 2013
01/13
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what this bill does is it suspects the debt ceiling until may. that means treasury can borrow without limit to pay for america's obligations. this is something that gives congress breathing room to deal with some of their other big fiscal challenges that we all know about. it lifts this immediate threat of a default, which is so dangerous not just for the american economy but for the world markets. it does so with a requirement, a price requiring the senate to pass a budget. actually, both houses, each house would have to pass a budget or members of congress won't be paid. their pay will be put in an escrow account are they won't be paid. that's a little bit. schtick they're trying to use. this takes away the threat of a big default. >> house republicans have it seems backed off their demand that any increase in the debt ceiling be matched by spending cuts. is this seen as a political retreat or are they hoping to gain something in return? >> reporter: well, both sides are kind of gloating here and claiming victory. we had a press conference from
what this bill does is it suspects the debt ceiling until may. that means treasury can borrow without limit to pay for america's obligations. this is something that gives congress breathing room to deal with some of their other big fiscal challenges that we all know about. it lifts this immediate threat of a default, which is so dangerous not just for the american economy but for the world markets. it does so with a requirement, a price requiring the senate to pass a budget. actually, both...
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Jan 23, 2013
01/13
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battle when the debt ceiling rolls around. >> our opportunity here is on the debt ceiling. this is where we have leverage. >> remember that the gop vowing to hold the country hostage for cuts? they had the leverage, getting ready to fight. speaker boehner even tried his hand at extortion saying, "there's a price for everything." but, now, here comes the cave. today, republicans in the house voted to suspend the debt ceiling. what about the hostage-taking? not this time. and remember all the usual bluster in those press conferences of theirs? today, the gop leaders ducked the press. only a few print reporters, boehner's camera man and a lone fox news camera were there to capture their comments in their entirety. huh? so why the sudden change? >> the full faith and credit of the united states of america is not a bargaining chip. we are not a deadbeat nation. >> they will not collect our ransom in exchange for not crashing the american economy. what i will not do is to have that negotiation with the american people. we're not going do do that. >> they're not going to do that.
battle when the debt ceiling rolls around. >> our opportunity here is on the debt ceiling. this is where we have leverage. >> remember that the gop vowing to hold the country hostage for cuts? they had the leverage, getting ready to fight. speaker boehner even tried his hand at extortion saying, "there's a price for everything." but, now, here comes the cave. today, republicans in the house voted to suspend the debt ceiling. what about the hostage-taking? not this time....
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Jan 23, 2013
01/13
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the debt ceiling can originate in either house, the senate finance committee could generate a debt ceiling proposal and they could do it if they wanted to. try to embrace some spending reductions, but i think what the house is saying is they are hoping to act soon as maybe tomorrow and it will be incumbent upon the senate majority to function. we look forward to seeing what the senate democrats recommend. we look forward to seeing what they recommend. it's time for them to function. [inaudible conversations] >> as all of you know, the majority of the senate will determine what the majority is and we will be happy to look at what the majority leaders will bring forward to the full senate. >> what did you think of the presidential inaugural address? >> i think it was disappointing i don't think it's a great way to start off a second term. i think it is quite disturbing. [inaudible conversations] >> welcome back, everyone. let's have a celebration. the first time we have been able to sit down together as a group. we have more female members serving now than ever before. we have so many issues
the debt ceiling can originate in either house, the senate finance committee could generate a debt ceiling proposal and they could do it if they wanted to. try to embrace some spending reductions, but i think what the house is saying is they are hoping to act soon as maybe tomorrow and it will be incumbent upon the senate majority to function. we look forward to seeing what the senate democrats recommend. we look forward to seeing what they recommend. it's time for them to function. [inaudible...
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Jan 24, 2013
01/13
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no budget, no pay. >> in the spotlight tonight, debt ceiling magic. that was house speaker john boehner after the house passed a bill making the debt ceiling disappear until may 18th, without cutting any federal spending. the stupidly named and conceived "no budget, no pay act" passed with a vote. 33 republicans voted against the bill, 199 voted for it. 86 democrats voted for the bill, 111 democrats voted against it. not only will the no budget, no pay act suspend the debt ceiling for about three months, it also requires the house and senate to pass budget resolutions by april 15th, and if they don't, representatives and senators will not get paid, which is of course, wildly unconstitutional. the 27th amendment prohibits congress from modifying their own paychecks in any way. they can vote to change the pay for future congress only, but republicans passing an unconstitutional bill, while at the same time relieving the pressure on the debt ceiling was welcomed by some democrats as republicans moving from out-right crazy to half-crazy. >> i'm not sure w
no budget, no pay. >> in the spotlight tonight, debt ceiling magic. that was house speaker john boehner after the house passed a bill making the debt ceiling disappear until may 18th, without cutting any federal spending. the stupidly named and conceived "no budget, no pay act" passed with a vote. 33 republicans voted against the bill, 199 voted for it. 86 democrats voted for the bill, 111 democrats voted against it. not only will the no budget, no pay act suspend the debt...
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Jan 22, 2013
01/13
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ceiling -- using the debt ceiling for leverage is a mistake. i'll finish with this, because we were at the ways and means committee and i gave the opening statement, and one of the witnesses are talked about gramm-rudman. it was attached to a debt ceiling bill. i was among the democrats who voted for it, but it passed -- it was deemed passed in the house. and the debt ceiling bill was used by senators as a vehicle, not as a threat. and not for leverage but as a vehicle to attach deficit reduction. so the use of the debt ceiling for the purpose that is ascribed to this one does not have a history that supports its use for this purpose. and so to the extent that you have the ability to look at this issue, i would urge that this is not only a dangerous precedent but a very likely problem for the economy when we need to emphasize economic growth and jobs. so i say that in a somewhat sober way because of what happened before. thank you. >> thank you very much. i'd like to welcome mr. brady, former chairman of the house administration committee, who'
ceiling -- using the debt ceiling for leverage is a mistake. i'll finish with this, because we were at the ways and means committee and i gave the opening statement, and one of the witnesses are talked about gramm-rudman. it was attached to a debt ceiling bill. i was among the democrats who voted for it, but it passed -- it was deemed passed in the house. and the debt ceiling bill was used by senators as a vehicle, not as a threat. and not for leverage but as a vehicle to attach deficit...
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Jan 22, 2013
01/13
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so is the gop about to cave on a debt ceiling deal? we may know a lot more soon. there's a plan floating around washington, stop lawmakers pay if there's no solution on the debt ceiling by the deadline day. >>> and this guy, he's teed off, the golfer phil michakelson tee off over his taxes. and he's not going to take it anymore, or is he? sue herera is live at the new york stock exchange. >> earnings are front and center with j & j, dupont, travelers all out with results. more on them in a few minutes. let's get you ahead of the curve. google is getting ready to report its latest results after the bell. fears about an ad revenue and major focus on those shares. google right now is down 3 bucks on the trading session. john is in silicon valley with what investor s need to know ahead of the numbers. >> couple of important themes this quarter, mobile and mobile. mobile's impacted on the core business. as more people do searches from mobile devices, google's revenue has been coming down. it's more than likely this trend will continue as smartphone and tablet sales spi
so is the gop about to cave on a debt ceiling deal? we may know a lot more soon. there's a plan floating around washington, stop lawmakers pay if there's no solution on the debt ceiling by the deadline day. >>> and this guy, he's teed off, the golfer phil michakelson tee off over his taxes. and he's not going to take it anymore, or is he? sue herera is live at the new york stock exchange. >> earnings are front and center with j & j, dupont, travelers all out with results....
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Jan 24, 2013
01/13
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also powering the rally, news that washington lawmakers passed a short term debt ceiling deal. the u.s. house of representatives gave the okay to a republican plan to suspend the debt limit until may 19. democrats in the senate now say they'll pass it too. darren gersh reports. >> reporter: the debt ceiling suspension came with a couple strings attached. if senate democrats don't pass a budget-- something they haven't done for four years-- members of congress won't get paid until they do. >> this bill simply says, "congress, do your job." when i grew up in wisconsin, if you had a job and you did the work, then you got paid. if you didn't do the work, you didn't get paid. it's that simple. >> house democrats called the pay ploy a gimmicknd saia 90 day reprieve from default simply moves the crisis back. >> for the last two years, we've heard from our republican colleagues economic uncertainty is bad for the economy. guess what? it is. and yet that's exactly what you are doing. another big dose of economic uncertainty. >> reporter: republicans shifted gears on the debt ceiling aft
also powering the rally, news that washington lawmakers passed a short term debt ceiling deal. the u.s. house of representatives gave the okay to a republican plan to suspend the debt limit until may 19. democrats in the senate now say they'll pass it too. darren gersh reports. >> reporter: the debt ceiling suspension came with a couple strings attached. if senate democrats don't pass a budget-- something they haven't done for four years-- members of congress won't get paid until they do....
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Jan 22, 2013
01/13
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they are teeing off this new debt ceiling bill. john boehner will be housing a meeting with key republican leaders at 5:00 p.m. eastern time. >> reporter: >> that's coming up and john harwood is here with a preview before that meeting. >> reporter: interesting to see how john boehner describes it, but there are some signs that the whole debt ceiling threat as a source of instability for markets and the economy may be melting away before our eyes. house republicans are going to take up a bill tomorrow afternoon to extend the debt ceiling, not just to april 15, but to may 18. they are going to do it with a mechanism that would allow them in effect to suspend the debt ceiling, not even to raise it making it easier for conservatives to vote for it and senate democrats say they plan to take up that proposal and expect to pass it by an overwhelming margin sometime within the next week or so. now, jay carney at the white house today for his part said we wouldn't a longer term extension than that but the president is not going to block thi
they are teeing off this new debt ceiling bill. john boehner will be housing a meeting with key republican leaders at 5:00 p.m. eastern time. >> reporter: >> that's coming up and john harwood is here with a preview before that meeting. >> reporter: interesting to see how john boehner describes it, but there are some signs that the whole debt ceiling threat as a source of instability for markets and the economy may be melting away before our eyes. house republicans are going to...